Open Inspections - Explained

To open or not to open? That is the question raised by many vendors when listing their home for sale. Whether you love or hate them, do they work?

Some vendors are cautious to have an open house but feel they have to have one in order to sell their home. This is not true. It's the vendor's choice if they would like to open their house or not.

The primary purpose of an open inspection is to raise the profile of the property, to increase it's exposure and to get as many people through your house as possible.

Now we all know that not every person who attends an open inspection is looking to purchase but does that matter? We welcome everyone to open houses simply because it is all about exposure and promotion. Some will be genuine buyers, others will be home owners thinking of selling their house and wanting to gauge the market, others are investors, neighbours, real estate professionals, passing motorists or those out for a morning walk. Whatever the motivation for attending an open house, their feedback and attendance is welcome.

Another benefit of an open inspection is word of mouth – people talk. They look through the house and then they discuss it's features with people they know. So for every person who attends the open house, there is a multiplying effect. And this extra exposure is free!

The advantages of open inspections for buyers is that it is a pressure-free way of looking at houses, particularly if you are just starting to look and are not sure of what you really want in a property. You can look around, check out the features of the house at your own pace and start to get an indication of what you get for your money within the current market.

It's also suggested that one of the most valuable things a buyer can do is get to know the real estate agent – build a rapport and take advantage of the advice available. You will find that your agent is more in tune with you and your needs if you take the time to talk, and what better place than at an open?

So this weekend, whether you are a vendor, purchaser or just out for your morning walk, come to our open houses and say hello!